SAN FRANCISCO, CA (March 9, 2021) – Mainsail Partners today announced the sale of Bio-Optronics, a software company for the clinical research industry. The company was acquired by Advarra, a market leader in regulatory review solutions, research quality and compliance consulting services and clinical site technologies. Mainsail invested in Bio-Optronics in late 2017 and helped the company grow through a number of key initiatives, including building out the management team, completing acquisitions and launching new products.
“This is an exciting day for the Bio-Optronics team and our customers,” said Dan Kerpelman, CEO and founder of Bio-Optronics. “The partnership with Mainsail over the past few years exceeded our expectations and prepared us for this opportunity, allowing us to expand while maintaining a laser focus on delivering value for our customers. This is an important milestone in our company’s history, and we’re looking forward to the next chapter.”
Bio-Optronics applications help thousands of healthcare organizations worldwide and are designed to simplify complex clinical processes, facilitate regulatory compliance and further patient safety. The company is the maker of the CCTrialSuite that includes the company’s Clinical Trial Management System (CTMS) which is one of the most widely used in the industry.
“It has been an honor to be part of the Bio-Optronics story and support the company’s mission to help healthcare professionals improve clinical trial quality,” said Michael Anderson, a Partner at Mainsail. David Farsai, Principal at Mainsail, added: “We believe Advarra is a terrific partner and that the Bio-Optronics team and products will do very well as part of that organization.”
In 2020, Bio-Optronics was named by the Rochester Chamber of Commerce and KPMG as one of the fastest growing companies in Rochester.
Bio-Optronics is a leading software company dedicated to providing user-focused applications for healthcare organizations that positively impact operational performance and final results. With applications focused on clinical research, automated resource utilization and patient safety, Bio-Optronics solutions are used by thousands of healthcare organizations worldwide and are designed to simplify clinical trial operations, enhance financial performance, facilitate regulatory compliance, and further improve patient safety.
Mainsail Partners is a San Francisco-based growth equity firm that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.2 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
Advarra advances the way clinical research is conducted: bringing life sciences companies, CROs, research sites, investigators, and academia together at the intersection of safety, technology, and collaboration. With trusted IRB and IBC review solutions, innovative technologies, experienced consultants, and deep-seated connections across the industry, Advarra provides integrated solutions that safeguard trial participants, empower clinical sites, ensure compliance, and optimize research performance. Advarra is advancing clinical trials to make them safer, smarter, and faster. For more information, visit www.advarra.com.